He electricity price on the wholesale market, it starts on Monday, the first working day of September, above 100 euros/megawatt hour (MWh) and will reach an average of 116.66 euros/MWh, thus maintaining the trend of high prices of the month of August, which it closed with the highest average monthly price in almost a year.
According to data released this Sunday by the Iberian market operator, OMIE, and collected by EFE, Monday’s price is 17.08% more than this Sundayin which, as usual, the reduction in demand due to the drop in activity is pushing prices down. However, the average daily price this Sunday is close to 100 euros/MWh and stands at 99.64 euros/MWh. The average daily price on Monday is even 14% more than a year agoeven though September 2nd was a Saturday.
According to OMIE data, the price of electricity for Monday will be at most between 9:00 p.m. and 10:00 p.m.when it reaches 138 euros/MWh, and lowest between 1:00 p.m. and 2:00 p.m.a range in which it will still be at 89.87 euros/MWh. This Sunday, renewable production remains low, and wind energy represents only 13% of the total and solar energy, 26%, according to data from Red Eléctrica.
The price of electricity on the daily wholesale market represents 75% of the consumption duration of the bill, or approximately 8.5 million consumers covered by the Voluntary Price for Small Consumers (PVPC), also called regulated tariff, including beneficiaries of the social electricity bonus.
THE high prices in August having made the bill of an average consumer covered by this tariff to be the highest since February 2023reaching 57.19 euros, the highest amount in 2024, surpassing that of January. Wholesale electricity prices in the countries of the European continent will be lower than those in Spain on Monday, although this time they will not be so far away. In France, the wholesale price will be 104.94 euros/MWh and in Germany 115.07 euros/MWh. The price in Italy, as usual, will be higher than that of Spain and will be 163.08 euros/MWh.
